Announced Mon, 20 Apr · 19:56 IST
Associate EIM signs MoU with Drivn to deploy 1,000 electric trucks
Business Updates View source PDF
RELTD · price
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Price reaction · full curve 14 horizons · vs prior close
+9.2%1-day move
₹135.80
prior close
₹142.30
base price
After-mkt
timing
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+8.2+8.7+7.0+6.3+9.2+6.7+6.6+10.5+10.0+6.7-5.1-4.6+18.9+29.7
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AI summary
Ravindra Energy's associate Energy in Motion (EIM, 49.5% REL stake) signed an MoU with EV leasing platform Drivn to deploy ~1,000 heavy-duty electric trucks over 2 years in India. EIM supplies battery-swappable vehicles; Drivn handles leasing, financing, and fleet operations. Drivn recently secured $80M from Nomura. This is an MoU, not a confirmed order; EIM began commercial operations in Aug 2025.
Likely market impact
Positive sentiment for associate EIM's growth potential via Drivn's network, but it's an MoU, not a confirmed order, so limited immediate revenue impact.